Pretty much anyone involved with digital currency and altcoins will have heard about the implosion of BitBay by now. Chat logs have been posted, detailing how the BAY price has been manipulated, funds have been released by Bter way too soon, and a whole bunch of other shenanigans we are not going to discuss here. David Zimbeck has been answering some questions over the past 24 hours, so let’s see what he had to say.
As is always the case with this kind of information, is it the saying of the original author, and does not represent my view of the view of CryptoArticles. We are not invested in BitBay, and do not wish to lend any credibility to accusations which cannot be backed by actual proof.
First of all, David was kind enough to provide us with the chronological events taking place. Do keep in mind this is not his official statement just yet, which is expected to be released over the next few days. This is just some basic information provided by David, to the public.
David Zimbeck was approached by Steven for the creation/development of a new altcoin. Steven promises David everything they have discussed, and because David is quite cautious, he questioned Steven like there was no tomorrow. After all, you can’t tie your real name to a project that is not legitimate.
A few days before the BitBay pre-announcement, Gekko (Ryan) and Bob(surplus) ask David to take a slightly larger share , so they could bring in a larger team and pay the developers (which is on par with that Steven has told David when he approached him about the project). So farm so good.
After grilling Ryan in regards to the project, David was assured by Ryan how BitBay was not a pump-and-dump, and how David Zimbeck was not just contacted because of his name. After all, such a name would surely lend credibility to the project.
Most of you have noticed how David’s name was pretty much all over anything and everything related to BitBay. This is not as agreed originally, which didn’t sit too well with David, for quite understandable reasons. Not a smart move by Ryan to be honest.
As David has received a 25 Bitcoin deposit by now, he advanced with extreme caution where BitBay was concerned. He also received some feedback (both positive and negative) from other communities, but that was to be expected.
Everything else is known by the public by now, and the events are still unfolding as we speak.
David Zimbeck will be releasing an official statement soon, which we will post on this website as well. Not because we defend him, or find him a culprit either, but just because we want to share the information with our readers. Do your own research, and keep comments professional please